Shipyards in Korea took market share from Chinese yards in 2011 South Korean yards took market share from Chinese yards in 2011 according to a recent report in the Danish Ship Finance Review. South Korea secured new orders of 13.5 million cgt Korean yards secured almost half of the contracted capacity (13.5 million cgt). Container and Tanker orders accounted for 85% (6 million cgt and 5 million cgt respectively). South Korea therefore maintains the position as the leading global builder of Containers and Tankers. But South Korean yards also added to their market position in the specialized tonnages. For example, orders of 1 million cgt were placed for Drillships in 2011. European owners signed 60% of the orders placed in South Korea during 2011. The order cover dropped on average 14% to 28 months in 2011. Chinese yards struggled to keep pace with their South Korean peers. In 2011, Chinese yards received new orders of 9.5 million cgt (19.5 million cgt in 2010) – primarily Dry Bulk tonnage, which accounts for 60% of the Chinese orderbook. Two thirds of all new orders were placed on behalf of Chinese or European owners. The order cover of Chinese yards dropped, on average, 17% to 28 months in 2011.
A group of Naples ship owners have come to an agreement with the Chinese yard Jiangsu New Yanagzijang Construction Co. for the building of 16 90,000 ton bulk carriers. Nicola Coccia Confitarma president with a group of Naples ship-owners and representatives of the Chinese yard signed the agreement on June 20. The order was placed by Perseveranza di navigazione,d’Amato di navigazione spa, Gestioni Amatoriali spa, la Giuseppe Bottiglieri di navigazione spa e Liberty Marittime International who
According to a report from Bloomberg, Japanese shipbuilders, leapfrogged by South Korean and Chinese yards in an industry they once dominated, are counting on fuel-saving technology to help them overcome a stronger yen and high wages. A Japanese handysize dry-bulk ship typically uses about 24 tons of fuel a day, compared with 28 tons for Chinese-made ones, a Bloomberg source said. Source: Bloomberg
Several media outlets now report confirmations that Cosco is also targeting ultra-large vessels by ordering nine ships of 20,000 teu, with options for four additional vessels. It was confirmed that China’s Cosco has sealed deals for nine plus four options on 20,000-TEU vessels on home soil. The giant containership orders will take Cosco Container Lines above one million slots for the first time.
China Ocean Shipbuilding Industry Group (COSIG) with its unit, China Ocean LNG has bought a 47% stake in Jiangxi Petrochina Kunlun Gas (Jiangxi Gas) for a total of ($6.2m), according to a stock market statement. The Chinese yard noted the benefits of investing in Jiangxi Gas, which has state-owned enterprise Petrochina Kunlun (51% stake), as a controlling shareholder and which has good connections in the natural gas related industries
Athens based, Financial Analyst John Nikolaou provides an insight into the recent market trends of the shipping industry: Greek shipowners have returned to the top of the global shipping economy by controlling a gross tonnage of 164 million tons, overtaking the Japanese on 159.4 million tons. According to Clarksons, this global lead illustrates that Greeks operate much bigger ships because they own 4,984 vessels against 8,537 managed by the Japanese and 6,427 by the Chinese.
STX Shipbuilding Co., the first South Korean yard in China, had its biggest two-day gain in more than a week in Seoul on optimism the purchase of a stake in Norway's Aker Yards ASA will add cruise liners to its range of vessels. STX Shipbuilding has more than quadrupled this year, making it the fourth-best performer in South Korea's Kospi 200 index. The stake purchase in Aker Yards will allow STX Shipbuilding to use the Norwegian company's expertise in cruise liners
Diversified SembCorp Industries Ltd., fresh from sales of key non-core assets, is hunting for foreign partners in its bid to become a global contender in its core businesses, President Wong Kok Siew said. Already Asia's largest shipyard operator, SembCorp is confident about meeting its internal target of not less than 20 percent growth in net profit per annum and has set its sights beyond Asia. "With the major divestments of non-core over
Asked what was previously on the site of the new Jiangmen Yinxing Shipbuilding yard, a company representative replies, “Mountains, we moved mountains to build ships.” With funds reportedly earned from ship breaking, Jiangmen Yinxing's parent firm has built two shipyards, one for building vessels 10,000 to 80,000 tons and this yard, at Jiangmen on a branch of the Pearl River, for vessels under 10,000 tons. In addition to several huge sheds the yard has several covered and open building and
March 29, 2011 - Athens, Greece - OceanFreight Inc., (NASDAQ:OCNF) a global provider of seaborne transportation services for both drybulk and energy commodities, announced today that it has entered into an agreement to purchase two resale newbuilding 206,000 DWT capesize vessels at a well-known Chinese yard. The vessels are scheduled to be delivered in the second and fourth quarter of 2013. The vessels will be purchased from a Company ultimately controlled by our Founder and Chief Executive
The CMA CGM Group hosted the Chinese Prime Minister, the French Foreign Affairs Minister and a ministerial delegation at its headquarters in Marseilles, July 1, the global shipping company announced. Chinese Prime Minister Li Keqiang was accompanied by France Minister of Foreign Affairs
The CMA CGM Group is will host the Chinese Prime Minister Li Keqiang in its Marseilles headquarters on July 1. Chinese Prime Minister Li Keqiang is scheduled to visit the CMA CGM Group headquarter on July 1, accompanied by France Minister of Foreign Affairs Laurent Fabius
Thailand plans to buy three Chinese-made submarines for the Royal Thai Navy at a cost of 355 million dollars each. Three Chinese-made submarines worth 355 million dollars each may be purchased by Thailand for its Royal Navy, the newspaper Bangkok Post reported today (Friday)
The Nicaragua canal project, which is being built by Chinese billionaire Wang Jing and his Hong Kong-based Hong Kong Nicaragua Canal Development Investment Co. (HKND Group), is not a threat to Panama, but a complement to the demand of world maritime trade, says the president of Nicaragua
The second stage of Russia-China "Joint Sea 2015" maritime exercises are taking place on June 8-11 in Russia’s Far Eastern Primorsky Territory, according to a statement from the Russian Defense Ministry’s Eastern Military District press service.
The head of Freeport LNG on Friday said that the U.S. Department of Energy did not advise against inviting Chinese investment in the company's Texas export plant, backing down from contradictory claims made on Thursday. Michael Smith, the chief executive of privately-owned Freeport LNG
Ship Finance International Limited (SFL) has entered an agreement to acquire eight Capesize dry-bulk carriers from subsidiaries of Golden Ocean Group Limited, the company announced today. The vessels are named Golden Beijing, Golden Zhoushan, Golden Magnum, Battersea, Belgravia
Golden Ocean Group Limited has entered into several agreements concerning its fleet. Golden Ocean has agreed with Ship Finance International Ltd ("Ship Finance") a sale leaseback transaction of eight Capesize vessels currently owned by Golden Ocean.
China's shipping and ports giant China Cosco Holdings is planning to order at least 10 Triple-E megaships capable of moving 19,000 containers apiece as the shipping and port giant seeks to dominate major ocean trade routes, The Wall Street Journal reported, citing unnamed sources.
China’s vessel exports rose 38.5% year on year (y/y) to USD6.1 billion in the first two months of 2015, says China National Association of Shipbuilding Industry (CANSI). Since the new orders placed at Chinese shipyards have been tumbling since late 2014
Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that 'a Chinese delegation will visit Namibia ... for discussions ... on the way forward regarding plans for the proposed naval
Builders, Operators Teaming to Fill Voids In Rapidly Growing Chinese Market After an uneven couple of years punctuated by struggling economic factors worldwide, maturing markets and some highly publicized accidents and illnesses, the cruise industry is hoping to find a little “double
China Rongsheng Heavy Industries (RSHI) has entered into a memorandum of understanding (MoU) with an undisclosed third party Chinese investor to sell its onshore shipbuilding and offshore engineering business. Both parties will further negotiate details of the deal
China has expressed anger at remarks made by the Association of Southeast Asian Nations (ASEAN) secretary general Le Luong Minh on the disputed South China Sea, , rejecting Chinese claims based on the so-called nine-dash line.
Japanese market players ramp up their design efforts for fuel-efficient engines to challenge Korean yards as demand for super-cooled fuel is set to soar, says a report in South China Morning Post. A total of 50 to 60 LNG ships annually are forecast to be delivered globally in